Hello, it’s Hannah Miller in San Francisco. Crypto prices are tanking. That hasn’t stopped VCs from writing checks. But first…
Today’s must-reads:
• Salesforce reports big demand for business software
• IBM has to pay $1.6 billion for poaching an account
• Meta is changing its ticker from FB to META
Investors still love crypto startups
Venture capitalists’ appetite for crypto is still strong, despite slumping digital currency prices.
Andreessen Horowitz broke records last week when it raised a $4.5 billion fund dedicated to crypto. Startups Babel Finance and StarkWare just scored multibillion-dollar valuations in their latest fundraises. And Lightspark, a startup focused on Bitcoin payments, came out of stealth with $175 million in funding last month.
Meanwhile, cryptocurrency prices have been in a state of chaos following the implosion of the TerraUSD stablecoin. The price of Bitcoin continues to bounce around the $30,000 mark, worth less than half of its all-time high in November....
Read Full Story:
https://www.bloomberg.com/news/newsletters/2022-06-01/in-crypto-downturn-star...
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